Smartsheet Inc (NYSE:SMAR – Get Free Report) insider Jolene Lau Marshall sold 3,571 shares of Smartsheet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $55.37, for a total transaction of $197,726.27. Following the transaction, the insider now owns 9,958 shares in the company, valued at $551,374.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Jolene Lau Marshall also recently made the following trade(s):
- On Friday, September 13th, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The stock was sold at an average price of $50.59, for a total value of $180,656.89.
- On Thursday, August 15th, Jolene Lau Marshall sold 3,741 shares of Smartsheet stock. The shares were sold at an average price of $48.18, for a total value of $180,241.38.
- On Friday, July 5th, Jolene Lau Marshall sold 3,994 shares of Smartsheet stock. The stock was sold at an average price of $43.11, for a total value of $172,181.34.
Smartsheet Price Performance
Shares of NYSE SMAR traded up $0.13 during trading hours on Thursday, hitting $55.50. 5,233,536 shares of the company’s stock were exchanged, compared to its average volume of 2,058,111. The company’s 50-day moving average price is $50.06 and its 200-day moving average price is $44.03. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $55.60. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of -89.52 and a beta of 0.74.
Smartsheet announced that its board has authorized a stock repurchase plan on Thursday, September 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in SMAR. Allianz Asset Management GmbH boosted its holdings in shares of Smartsheet by 69.2% in the 4th quarter. Allianz Asset Management GmbH now owns 132,482 shares of the company’s stock worth $6,335,000 after acquiring an additional 54,164 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Smartsheet by 3.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 56,739 shares of the company’s stock worth $2,713,000 after buying an additional 1,640 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Smartsheet by 51.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 148,072 shares of the company’s stock worth $7,081,000 after acquiring an additional 50,181 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Smartsheet during the fourth quarter worth approximately $467,000. Finally, Capital International Sarl grew its stake in shares of Smartsheet by 11.3% during the fourth quarter. Capital International Sarl now owns 83,904 shares of the company’s stock valued at $4,012,000 after purchasing an additional 8,528 shares during the last quarter. 90.01% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on SMAR shares. Truist Financial restated a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Canaccord Genuity Group restated a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Barclays lifted their price objective on Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “hold” rating and issued a $57.00 target price on shares of Smartsheet in a research report on Tuesday, September 24th. Finally, Canaccord Genuity Group downgraded Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.82.
Check Out Our Latest Analysis on SMAR
Smartsheet Company Profile
Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.
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